Red Lobster is contemplating bankruptcy, reportedly in part because of an $11 million record loss last year that the seafood restaurant attributed in part to the promotional offer of unlimited shrimp.
In this June 20, 2005, file photo, a Red Lobster restaurant is seen in Fairview Heights, Ill.
The restaurant’s famous $20 Ultimate Endless Shrimp promotion — created as a short-term offer that became permanent — came after the company lost $5.4 million in the second quarter of 2023. The promotion was successful in bringing in diners, especially after the deal went viral on social media platforms like TikTok.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Red Lobster Is Considering Bankruptcy Partly Due to $11 Million Loss from Endless Shrimp Deal: ReportRed Lobster is considering a Chapter 11 bankruptcy filing, according to a new report, after the business previously reported a $12.5 million operating loss in the fourth quarter of 2023
Read more »
Report: Red Lobster’s ‘Endless Shrimp’ Deal Leads Company to Consider BankruptcySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Red Lobster eyes bankruptcy option after $11M in losses from endless shrimpThe seafood restaurant chain sunk financially after a flubbed promo.
Read more »
Red Lobster eyes bankruptcy option after $11M in losses from endless shrimp promotionRed Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain's bottom line, according to reports.
Read more »
Red Lobster eyes bankruptcy option after $11M in losses from endless shrimp promotionRed Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain's bottom line, according to reports.
Read more »
Red Lobster eyes bankruptcy option after $11M in losses from endless shrimp promotionRed Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain's bottom line, according to reports.
Read more »